One of the significant responsibilities of managing an organization is to maintain detailed reports pertaining to every aspect of the business. With accurate reporting, managers can streamline the various work processes. When it comes to evaluating profit and employee performance, reports are helpful to make informed decisions. So it can be easily established that reporting is a vital responsibility in a business setup.
Traditionally, reporting has been a manual process. Data is collected from various sources, and then put together in a cohesive format. By definition, making a report means presenting the data in an understandable way that can be analyzed further. But with advancement in technology, the definition of reporting has also changed. In the era of Business Intelligence (BI), reporting also includes data analytics. BI tools are the key aspect to perform data analytics to deliver business insights. These insights help business users to make informed decisions about future strategy based on the data.
A majority of businesses use Tally for their accounting solutions. In the absence of a BI tool, most reports are maintained in Excel spreadsheets manually. There are many companies who use Excel for keeping reports of their financial transactions, inventory management, employee salary, and more data. However, as per Forbes the difficulties that an organization faces if they are generating reports in excel are – Data difficult to analyze; Loss of historical data; Difficult to share; Data difficult to interpret due to absence of any visualization tool, which highlights the important aspects of a data set or results and many more. Moreover, version management of excel sheets can really become a nightmare.
EasyReports is a BI tool that is completely integrated with Tally software and also works with other ERP’s. This BI tool specializes in generating reports within a few minutes. It allows pivot style reporting for quick analysis of your data. Users can auto-generate and auto-schedule their reports as per a desired interval of time.
The benefits of using a BI tool for reporting are:
Less chances of human error
BI reporting tools, help in analysis and automation of reports. In the traditional method, data was collected manually from different sources, and was entered into the system manually. The old way had more room for human errors. BI tools like EasyReports imports data from Tally and generates the required reports. Since this process is system driven, chances of error are less.
Increases employee productivity
Imagine you are a sales manager. At the end of every quarter, you have to make performance reports for 20 sales agents. To manually create reports for 20 agents can be a tedious and time-consuming task. Thanks to BI reporting tools, managers can auto generate these performance reports in much less time. EasyReports BI tool helps users to save time on their reporting tasks, thus, increasing their productivity.
Quicker business decisions
The main purpose of a BI tool is to deliver key business insights that can help users to make informed decisions to improve future business strategy. The insights derived from a BI tool help to identify market trends, which further assists managers to come up with sound marketing strategies. The analytics reporting that happens with a BI tool enables users to make quick and efficient decisions.
BI tools like EasyReports is very helpful when it comes to finding reporting solutions for an organization. To know more about the reporting features of EasyReports, visit www.easyreports.in